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Correct me if I'm wrong, but the idea of the Canal special is basically to reach a different water column than the traditional floating pencils. When the pencil sinks, especially as it is just cast and hits the water, it is thought that bass at lower water columns will see it better and become enticed as the sinking pencil is returned to the surface as if it were being chased. I would also guess that the canal special is usually heavier and can cast better than floating pencils. Not exactly sure if that is right, but it makes some sense to me. Someone who knows more please chime in.
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